EXECUTIVE SUMMARY

The present business plan is developed to secure company funding of 2,328,108.33 debts funding
to finance business growth. The company seeks to increase its effectiveness and efficiencies in
agro chemicals sells at competitive prices, in a manner that generates fair and equitable returns
for owner, and superior value to our customers.

This funding will be used to purchase agro chemicals. To this regard the managerial,
marketing and financial study of the business has been undertaken in this document.

Following the high demand for agricultural produce in the state and having considered the
constraints and the factors limiting the maximum production of agricultural products in the
country. We were able to spot a huge gap between supply and demand due to high rate of
damage crops as a result of lack of pesticides and fertilizers used by the farmers. The owner of
the company saw this challenge as a great business opportunity to go into Agrochemicals sales.

According to the projected income statement, the project will start generating profit in the first
year of operation. Important ratios show an increasing trend during the life-time of the project

.The cash flow statement showed that the business is able to generate positive cash flows and
sufficient cash reserves and also expected to maintain a healthy financial position over the
operation years.

It is therefore concluded that the proposed business is financially viable. The demand for agro
chemical is strong and growing, situations that will ensure sufficient return to owner.

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 1. Background Information
1.1 Back ground of Abele Agro Chemicals Store

1.1.1 Location;–

Abele Agro Chemicals Store is located in Gurage Zone, in Buee town at a distance of 110 kms
far from Addis Ababa.

1.1.2 Name- Abele Mulugeta Mobil 0916298581

1.1.3 Legal form of business – Soleproperitership

1.1.4 Business title –Agro chemicals Retailer

1.1.5 Type of Industry– Trade

1.1.6 Status of the Business –Expansion/ Incremental Operation

1.1.7 Registering Agency: Buee Town Trade Office

1.2 Background of the Promoter’s

1.2.1 The Promoter

Abel Agro chemicals Retailer is a sole proprietorship business owned by Mr. Abele Mulugeta
The owner was born in Ethiopian and currently has Ethiopia citizenship. In view of his
education he has completed high school education. The promoter has extensive experience in the
trading of grains and has conceived the idea of enchasing his trading experience and going in
agro chemicals retailer

1.2.2 Bank Loan History

The company has experience in receiving loans. The business has obtained working capital loan
amounting to Birr 80,000.00 from MIF. The loan is repaying in good manner. Generally, the
company is truthful in all circumstances.

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1.2.3 COMPANY BACKGROUND

Abele Agro chemical Store is a local retail store formed in March 2013 and located at Buee
town. The company’ is engaging to sell pesticides and insecticides to the local farmers and to
private vegetables producers. The company also offers services such as field expertise in order to
improve the crop protection and production by the local farmers. It has been working extensively
with the farming community to help them raise better and healthy crops.

The company is dealing with only sells pesticides and insecticides s, branded or not branded,
domestic or imported. The owner is also employees and he is offering his expertise in every time
and every place. The store is open all day from 08:00 am until 06; 00pm The Company procures
imported and local agro chemicals from different wholesalers in the country.

1.2.4 Product Description

Agrochemicals are crop protection products or agents used to control plants or weeds, diseases,
insects or animals that are undesirable or harmful to man, and to promote the growth and
development of crops.

The commonly used agrochemicals in Ethiopia are insecticides, herbicides, fungicides,

fumigants, fertilizers and growth regulators. Insecticides target insects, herbicides target weeds,
fungicides target fungi, nematicides target nematodes while rodenticides target rodents. There is
a further subdivision of each class into smaller subclasses based on chemical structure.
Concerning total use, herbicides account for the largest proportion of pesticide use.

Agrochemicals are widely used in agriculture to protect crops and animals from pests such as
insects, mites, birds, ticks, rodents, nematodes, weeds, fungi, and other organisms that cause
losses. They are also used to maintain product quality.

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1.2.5 Product Benefits

 Increase in Food Production;

Allows producers to increase crop yield by reducing the effects of pest, diseases and weeds.

 Decrease the Cost of Food

Without crop protection chemicals, food production would decline, many fruits and
vegetables would be in short supply and prices would rise. It, therefore, helps to keep food prices
in check for the customer.

 Healthy and Safe Crop Production

Pesticides allow customers to consume high-quality produce that is free of insect blemishes and
contamination.

 Increased Profit for Farmers

Farmers can increase profit by having more to produce and sell and decrease their labour cost.
Using pesticides reduce the amount of labour and time required to remove weeds and pests
manually.

 Sustaining Agriculture in Developing Countries

Agrochemicals have contributed to healthy, adequate food supply for all. Developing countries
deal with daily food shortages and an unbalanced diet. Using these chemicals will ensure
increase food production making food affordable to a large portion of its population.

1.2.6 Product and Services Offering

Abele Agro chemicals Store offers are insecticides, herbicides, fungicides, fumigants,
The company also offers services such as field expertise in order to improve the crop protection
and production by the local farmers for free

1.2.7 Business objective of the project

 To maximize profit & make the business sustainable.
 To provide good quality agro chemicals at affordable prices
 To provide employment opportunity to the growing labor force of the project area by employing
permanent employees.

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 1.2.8 Keys to Success
Our keys to success are:

 Location of the Business is of prime importance.

 Excellent product and service that will build and maintain customer loyalty.
 We estimate the annual chemicals requirement and make a contracted in advance with the
suppliers to secure the drastic fluctuation in the price of agro chemicals
 Quality maintenance will play an important role as it is evident from the behavior of the
general consumers that they are more specific towards health issues than ever before

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 2 SWOT Analysis

Abele Agro Chemicals Store conducted SWOT analysis to be able to position the business to
maximize its strength, leverage on the opportunities that will be available, mitigate its risks and
be well equipped to confront its threats.
Strength:
Abele Agro Chemicals Store is strategically located; Access to the ready market as 80% of the
district's population engage in agriculture. We also consider our excellent and prompt customer
service to be a strength as it offers us a competitive advantage. Other strengths of Abele Agro
Chemicals Store include;
 access to electricity, telecommunication, and water are the benefits the location affords
the company
 Proactive response to client
 Availability of low cost labor
 Wealth of experience in the industry
Weakness:
 Inadequate capital to procure chemicals
 Inexperienced technical staff as compared to the units currently in operation
 Inefficient management structure
Opportunities:
 The business has an excellent and promising future since the awareness of farmers
increase.
 Changing rain fall patterns
 Government policy is major boost in sale

Threat:
There are several threats that face every business and this is the downturn of the economy
There is a threat of other more chemicals retailers starting this line of business thus leading to
stiff competition that the company might not be able to cope with.
Other threat of includes;

 Unpredictably climate change is harmful to business

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 3. Market Study

3.1 INDUSTRY ANALYSIS AND MARKET TRENDS

Agrochemicals present significant part of the agricultural sector. Agro-industry plays an
important role in the country economy. Agrochemicals are used in a wide variety of products and
play an important role in the country economy.

They are constituents of materials, are used in preparations and products and are embedded in
complex physical systems. While agrochemicals are a significant contributor to national
economies, agrochemicals management through their life cycle is important in order to reduce
and avoid the possible risks to human health and the environment, together with their identified
costs, and to gain excellent benefits for humans.

Agrochemicals as a crop protection products play an important role for farmers around the
country in controlling the pests and diseases affecting our food supply. Pesticide usage has
become essential in order to maximize agriculture production and reduce public health
pestilence. The rapid changes in cropping patterns, increased fertilization and adoption of
programs for high yielding varieties have all contributed to increased use of pesticides.

If the use of agrochemicals is carefully selected, farmers can improve agricultural productivity,
can contribute to food security, and, in many developing areas, incomes and revenues can be
increased. It is well known that consumers expect to choose what kind of food to consume.

Enormous opportunities have been created for agrochemicals by the high costs of inputs for
agricultural production, combined with the efforts of the government and donors to develop
major crop value chains. Demand for chemical fertilizers, herbicides, and insecticides have been
growing annually by an estimated 25%.

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3.2 Competition
The competition comes from other local retailers offering similar and very often the same
products. It also comes from the major distributors and importers which are going around the
town and offer and sell products cheap from their distribution vans. Recently, this situation have
been significantly improved, thus the major competitors remains local stores.

Most of these competitors don’t even have a legal retail store. They are selling the products from
their distribution centre, and most of them don’t have an expert. Because the competition has
shifted from individual company level towards “chain competition” the strengthening of market
links is a must.
Abele Agro- Chemicals retailer is able to deliver and market the product in order to meet
consumers’ needs (what they want and when they want) and must be flexible enough to adjust to
changing markets. Domestic retailers in general lack these skills, but as the competition comes
they are adjusting their marketing strategy towards consumers’ preferences.
Generally, the company seeks to establish a competitive edge in its target market segment
by increasing level of customer contact and services that other competitors seem to often
time lack.

3.3 Target Market

Target consumers of the company are local farmers and private peach and vegetables producers
which are the dominant group willing to use and willing to buy the product and service offered.
3.4 Promotion

 The company will promote the products through the means of personal selling,
advertising and short term sales promotions. This will be done mainly with the aims of
providing information to
 Advertise their product and enhance its brand image through Television Radio and Print
Media as its primary advertising medium. By so doing, details of specific products are
going to be stated to give prospects the idea of what the company provides its client.
 Install our Bill Boards on strategic locations all around

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  Engage in road show from time to time in targeted communities.
 Distribute our fliers and handbills in target areas.
 Position our Flexi Banners at strategic positions in the location where we intend getting
customers to start patronizing our products.
 Encourage the use of Word of mouth marketing (referrals)
3.5 Pricing

The domestic market price is determined by the market force of demand and supply. Whenever
more chemicals are driven to the market places the price would decline and vice versa.

The company will charge significantly less for its products than other companies because of its
lower overhead expenses and fewer employees it will engage. Initially the pricing strategy is to
capture major market players by negotiating with them and giving slightly discounted rates. The
focus will also be on smaller market players and helping to service their needs. Most of the large
customers will be identified and new customers will also be won through competitive pricing.
However, the prices will be competitive to other agro chemicals retailers

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 . 4. Management Plan

Our company plans to keep wage and salary expenses low, at least initially. To achieve this
objective, most position will be occupied by the owner and his families who fortunately possess
the relevant experience. The remaining staff will be one expert and sales lady and one security
guard. Mr. Abele is responsible to make all of the major management decisions in addition to
monitoring all other business activities. 

4.1 Personnel Plan

At the beginning, Abele agro chemicals store is decided to have a small team consisted of
experts in agricultural industry, expert in operations and expert in sales and marketing.
Skilled professionals will be hired in order to improve the quality of the service offered. These
people will be experts in their field – agricultural experets, because the law does not allow other
than agricultural expert to work in this kind of stores. These new employed experts and all other
employees will be provided with proper training, by visiting the conferences and events
organized by the importers, distributors and academic experts. Employees will be encouraged to
have a sense of security and pride in their jobs. Following table shows the requirements of
human resources and salary.
Table 1 Personnel required and Salaryon No. of employees Salary/month Total salary/moth
Description No. of No. of employees Salary/month / person Annual Salary
Manager ( Owner) 01
Agricultural expert 01 3,500.00 42,000.00
Sales and marketing. 01 3,000.00 36,000.00
Security Guard 01 1,200.00 14,400.00
92,400.00

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 5 Raw Materials and Inputs
Abele agro chemicals store specialized in buying agro chemicals from wholesalers for reseal.
The commonly used agrochemicals in Ethiopia are insecticides, herbicides, fungicides,
fumigants, fertilizers and growth regulators. These can be easily obtained from local markets
wholesalers.
5.1. Cost of Production
To purchase the needed quantities of agro chemical, purchase cost is needed. We have made
some assumptions on the costs of agro chemicals, salary, transportation and rent.
Annual costs of agrochemical has shown below

5.1.1 Purchase Plan of Agro Chemicals

Abele agro chemicals store will begin to purchase insecticides, herbicides, fungicides, and
fumigants, respectively from potential sources of the country. Even if we know that we can add
more items, we want to limit ourselves on just 4 items

Our purchasing capacity depend on farmers’ mobilization and competition, therefore we expect
to increase 10% our purchase in the first year , 20% increase in second year, 25% increase in the
third year and 30 % then after.

Table 2. Production Plan of Agro Chemicals in Litter

Year 1 2 3 4 5
Insecticides 300.00 360.00 450.00 585.00 760.50
Herbicides 4,000.00 4,800.00 5,760.00 6,912.00 8,294.00
Fungicides, 2,000.00 2,400.00 3,000.00 3,900.00 5,070.00
Fumigants, 1,200.00 1,440.00 1,800.00 2,340.00 3,042.00
SUM 9,000.0
7,500.00 0 11,010.00 13,737.00 17,166.50

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Table 3 Annual Cost of Agro Chemicals
YEAR 1 2 3 4 5
Insecticides 300 360 450 585 760.5
Price per lit 769 807.45 847.82 890.21 934.72
S/total 230,700.00 290,682.00 381,520.13 520,774.97 710,857.83
Herbicides 4,000.00 4,800.00 5,760.00 6,912.00 8,294.00
Price per lit 808 848.4 890.82 935.36 982.13
Sub- total 3,232,000.00 4,072,320.00 5,131,123.20 6,465,215.23 8,145,778.34
Fungicides, 2,000.00 2,400.00 3,000.00 3,900.00 5,070.00
Price per lit 708 743.4 780.57 819.60 860.58
Sub total 1,416,000.00 1,784,160.00 2,341,710.00 3,196,434.15 4,363,132.61
Fumigants, 1,508.00 1,440.00 1,800.00 2,340.00 3,042.00
Price per lit 470 493.5 518.175 544.08 571.29
S/total 708,760.00 710,640.00 932,715.00 1,273,155.98 1,737,857.91
Total sales 5,587,460.00 6,857,802.00 8,787,068.33 11,455,580.33 14,957,626.70

5.1.2TransportationCost
As indicated in this report, The Company will purchase 7,500.00 litters in first year. The cost of
transportation has taken an average price of Br. 0.25.00 per litter. Therefore; the cost of
transportation for the year is determine to be 1,875.00 (0.25*7,500.00)

5.1.3 Shop Rent

The company will rent the shop birr 4,000.00. The cost of rent has taken an average price of Br.
4,000.00 per month. Therefore; the cost of rent for the year is determine to be 48,000.00.00
(4,000*12)
Table 4 Annual Production Costs
Item Yr1 Yr2 Yr3 Yr4 Yr5
Cost of Agro 5,587,460 6,857,802 8,787,068.3 11,455,580.3 14,957,626.70
chemical
Salary & Wage 92,400.00 101,640.00 111,804.00 122,984.00 135,282.00
Transportation 1,875.00 1,906.25 2,581.56 3,881.14 4,975.19
Rent 48,000.00 50,400.00 52,920.00 55,566.00 58,344.30
Total production
Cost 5,729,735 7,011,748 8,954,373.86 11,638,011.44 15,156,228.19
5.2 Sales projections

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According to the above assumptions we expect to generate income from the procured quantities
of agro chemicals. The table below shows the expected income that will be generated within five
coming years.
Description Year1 Year 2 Year 3 Year 4 Year 5
Sales
7,180,065.00 9,975,848.11 12,254,758.03 15,349,275.21 19,335,936.24
Total
7,180,065.00 9,975,848.11 12,254,758.03 15,349,275.21 19,335,936.24

5.3 Project Implementation Schedule

The planning, execution and commissioning of the business are estimated as shown below:
No. Activity Time Table
1 Document Preparation Done
2 Summit loan application to bank March,2022
3 Receive loan April 2022
4 Purchase of Agro chemical April. 2022
5 promotion April,2022
6 Sales an, Delivery of product to clients d April2022 and onwards

6. Financial Plan

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For the start-up operations, investments are necessary to purchasing agrochemical, transport,
labour, renting of shop. and the projections are for stable growth of 5 per cent per year and 20
per cent of profit.

6.1 Initial Working Capital Determination

Initial working capital consists of cost of agro chemicals, salary, transport and rent for five month. The
minimum days coverage considered for one turnover is 150 days. The working capital amount is
determined to be Birr 3,000,000.00 for five month. . The items and cost breakdown is shown in the
following table.

Working Capital Cost for three Month

Particular Cost (Birr)
Agro chemicals 2,328,108.33
Salary and benefits 38,500.00
Rent 20,000.00
Transportation 781.25
Cash 612,610.42
Total Working capital 3,000,000.00

6.1.1CostofAgroChemicals
As the capacity suggested in this report, the company will purchase birr 5,587,460.00
of agro chemical in the first production year. The required cost of agro chemical for five month
will be birr (5,587,460/12)*5. Therefore; the cost of agro chemical for five month is determine to
be 2, 328,108.33

6.1.2 Salary and benefits

As indicated in this report, estimated annual salary including benefits is birr 92,400.00. Salary
and benefits for five months is estimated to be birr 38,500 (92,400/12*5

6.1.3 Rent Expense

As indicated in this report, estimated annual rent is birr 48,000.00. Rent for five months is
estimated to be birr 20,000.00 (48,000/12)5

6.1.4 Transportation Expense

As indicated in this report, estimated annual transportation expense is birr 1,875.00.

Transportation expense for five months is estimated to be birr 781.25 ( 1875/12)5

6.2 Debt Structure

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The major costs selected to be financed with debt are only cost of wheat grain. We have
estimated the total cost of working capital birr 3,000,000.00, this makes the loan constitute 77 %
(2,328,108.33) of the cost of the total investment. And the rest 23% will be covered by the
owner. The capital structure is given below:
Application Bank Loan Owner Total
Birr Contribution Birr
Birr

Working Capital 2,328,108.33 671,891.67 3,000,000.00

Total 2,328,108.33 671,891.67 3,000,000.00

6.3 financing
The loan will be obtained from Abyssinia Bank. The loan birr 2,328,108.33.00 would be paid
within 3 years at quarterly repayments with 15.5% annual interest rate per annum. Loan payment
schedule is shown below
Table 5 Loan payment Schedule

Quarter Interest 0.03875 Repayment Balance

2,328,108.33
     
90,214.20 194,009.02 2,134,099.31
1St
82,696.35 194,009.02 1,940,090.29
2nd
75,178.50 194,009.02 1,746,081.27
3rd
67,660.65 194,009.02 1,552,072.25
4th
60,142.80 194,009.02 1,358,063.23
1St
52,624.95 194,009.02 1,164,054.21
2nd
45,107.10 194,009.02 970,045.19
3rd
37,589.25 194,009.02 776,036.17
4th
30,071.40 194,009.02 582,027.15
1St
22,553.55 194,009.02 388,018.13
2nd
15,035.70 194,009.02 194,009.11
3rd

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 7,517.85 194,009.02 0.09
 4th

  2,328,108.24

7 Financial Analyses
7 .1 Profitability
Profit maximization is the overriding factor in most management decisions. Thus, an economic
profitability analysis is necessary to determine whether investing in a agro chemicals store will
result profit in the long run. Considering the implementation of the project as planned, the
project will remain profitable right from the beginning.

According to the projected income statement, the company will generate a net profit of Birr
794,206.22 during the first year and Birr 1,938,045.21in the second year birr 2,257,643.96in the third
year, birr 2,597,884.64.11in the fourth year of operation. The income statement and the other
indicators of profitability show that the project is viable. Projected p/L statement shown below

PROJECTED PROFIT AND LOSS STATEMENT

REVENUE Yr 1 Yr 2 Yr 3 Yr 4 Yr 5
Sales 7,180,065.00 9,975,848.11 12,254,758.03 15,349,275.21 19,335,936.24
Operating Cost 5,729,735 7,011,748.00 8,954,373.86 11,638,011.44 15,156,228.19
Gross Margin 1,450,330.00 2,964,100.11 3,300,384.17 3,711,263.77 4,179,708.05
315,749.69 195,464.10 75,178.51
Interest Exp
Profit before tax 1,134,580.31 2,768,636.01 3,225,205.66 3,711,263.77 4,179,708.05
1,113,379.1
Tax Exp 30% 340,374.09 830,590.80 967,561.70 3 1,253,912.415
794,206.22 1,938,045.21 2,257,643.96 2,597,884.64 2,925,795.64
Net Income

7.2 Project Liquidity

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Many profitable companies go bankrupt because of cash flow deficiencies. That is why our main
concern will be to have sufficient cash on hand to meet our payment obligations, and be prepared
for unexpected needs of cash. Our projections indicate that our business is able to generate
positive cash flows and sufficient cash reserves. That includes a possible line of credit with our
bank, which could be used in slow sales periods as well. This is a good way to control the cash
flow risk. The following table shows the projected cash flow.

Projected Cash Flow

  beginning 1Yr 2Yr 3Yr 4Yr 5Yr
Cash from Operation   7,180,065.00 9,975,848.11 12,254,758.03 15,349,275.21 19,335,936.24
Cash Sales   7,180,065.00 9,975,848.11 12,254,758.03 15,349,275.21 19,335,936.24
Equity 671,891.67          
Loan 2,328,108.33          
Sub total cash 3,000,000.00          
Expenditure            
Operational Expense 1,900,000.00 5,729,735 7,011,748.00 8,954,373.86 11,638,011.44 15,156,228.19
Profit Tax Paid Out     340,374.09 830,590.80 967,561.70 1,113,379.13
Principal Repayment      
776,036.08 776,036.08 776,036.08
Payment of Interest   315,749.69 195,464.10 75,178.51    
total Cash Spent 1,900,000.00 6,821,521 8,323,622.27 10,636,179.25 12,605,573.14 16,269,607.32
Net Cash Flow 1,100,000.00 358,544 1,652,225.84 1,618,578.78 2,743,702.07 3,066,328.92
Opening balance   1,458,544.23 3110770.07 4729348.85 7473050.92
1,100,000.00
Cash Balance 1,100,000.00 1,458,544.23 3,110,770.07 4,729,348.85 7,473,050.92 10,539,379.84

7.3 ECONOMIC BENEFITS

At the realization of the Project a number of benefits will be created. The local government will
get revenue starting from the first year of the operation of the factory. Without mentioning the
income tax that to be deducted from the salary of the employees, the local government will get
Birr/year in the forms of profit tax.

Creation of employment opportunity also other important benefit. With this regard, the project
will create temporary job opportunity for sound number of daily labors. In addition to temporary
employment opportunity the project can create employment for 3 persons.

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In addition to supply of the domestic needs, the project will generate other investments as
multiplier effect of this investment. The operation of such factory will have a foreign exchange
saving effect to the country by substituting the current imports of flour from abroad to meet the
demands of local market.
Experience of this project may be extended to the grain market by creating market the
agricultural produce

8 Socio- Economic Benefits and cost

8.1 Social Economic Benefits
Development of the project will have a paramount importance towards the benefit of the
surrounding farmers by helping them to obtain better agro chemicals at lower price.
Apart from this, development of the business will also have the following socio- economic
benefits;
 Aside from the increase in income of the owner, the project would activate the economy
especially in the continuous supply of agro chemicals. Being efficient in terms of
business returns and thus considered as a role model

 The expected increase in income of the permanent & temporary employees would
eventually contribute to good health & nutrition in the family and allow them to access
better education for their children, improve sanitation and provide for the necessities in
the household.

8.2 Social & Economic Cost;

There are no social & economic costs foreseen in this project. Instead, this will promote
economic growth in the region.
Type Description Beneficiaries Benefits
Employment Farming is a vital source of livelihood Farmers The use of agrochemicals improves
for the rural people, and the use of soil and crop conditions which will
agrochemicals will boost overall increase their productivity and
harvest yield.
production on a large scale leading to
increased productivity and social
welfare in rural areas.
Education Increase per capita income and Children and Access to an excellent education

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 infrastructure development will the youth to pursue their dreams
enable the youth to get access to
education
Income Increase productivity raises farmers Individuals engaged Income from the sale of farm
income, increases food supply and in farming, produce
marketing and
growth in rural areas. This increases the
per capita selling.

income of farmers
Infrastructure Increased infrastructure development Farmers and the Access to good roads, hospitals,
and access to good roads which helps to entire populace schools, clean water and
enlarge markets. electricity.
National Agriculture is the primary source It earns foreign exchange
of food supply in the country. The entire nation through the export of
Economy
Raising the food supply, therefore, agricultural products. Provides
has great importance for economic employment, food and raw
growth. materials for the nonagricultural
sector.

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 9 Conclusion and Recommendations

9.1 Conclusion and Recommendation

It is concluded and recommended that:
The financial results show that the project is profitable, although there will be some dependence
on loan.
The project is a viable and could target the surrounding farmers to market pesticide high
important for the clients.
The demand for agro chemicals is increasing due to rising income, population growth and
awareness, this business has great potential.

It is therefore concluded that the proposed project is financially viable. The demand for quality
agro chemicals is strong and growing, situations that will ensure sufficient return to investment.
In view of the technical and financial analysis and the above conclusion, it is recommended that
promoter is encouraging to submit the plan to financial institutions for funding for the smooth
running of the project activities as specified in the project implementation schedule.

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